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Third Party Accounting Software and Payments Services Directive (PSD2)

16.01.2018 21:47 #1
My understanding is that PSD2 allows for third party applications (such as new payment providers or social media applications) to connect to core banking systems quickly.I use accounting software to do my accounts, but up until now my software could not fully connect with AIB. Am I right to think that accounting software packages should now be able to quickly connect with AIB in compliance with PSD2? Thanks in advance.
17.01.2018 10:25 #2
Hi maxell,

From 13 January 2018, you will be able to give a Third Party Provider (TPP) permission to access and consolidate information on any account you use to make payments and to make payments on your behalf from your account. To make use of these services, you will need to give your explicit consent to the TPP to carry out these actions (subject to account type). This will not affect you if you do not use the services of a TPP.

Please see link for more information: https://aib.ie/psd2

Thanks for posting on boards,
Elizabeth. 
17.01.2018 10:49 #3
Thanks for getting back to me, much appreciated. The link you sent on PSD2 is legal ambiguity though, the customers in AIB don't appreciate pages like that as an explanation to a major change such as PSD2. I spoke with customer care two weeks ago at AIB and they told me on the thirteenth of January my third party accounting software on the cloud would be able to log-in to my account. To quote the person they said 'that is what we are being told'. I have given my third party accounting software explicit permission to access the account. The issue is, it can't? 
I have no idea if this is a technical issue or a security issue as AIB has never allowed third party accounting software willing access? There is no information about this on your website. All businesses and accountants are now using this software in Ireland, so I would assume AIB needs to address this on their website, with some guidance for business customers?
17.01.2018 16:07 #4
Hi maxell,

AIB is committed to supporting a better banking experience for our customers through the facilitation of PSD2. In line with the regulations as set out in PSD2, AIB will be making APIs available for regulated third party providers. This will enable TPPs such as regulated accounting package providers to access your account information with your permission in the coming months

Thanks for posting on boards,
Elizabeth
17.01.2018 16:29 #5
Originally posted by AskAIB: Eliz
Hi maxell,

AIB is committed to supporting a better banking experience for our customers through the facilitation of PSD2. In line with the regulations as set out in PSD2, AIB will be making APIs available for regulated third party providers. This will enable TPPs such as regulated accounting package providers to access your account information with your permission in the coming months

Thanks for posting on boards,
Elizabeth

Thanks for getting back to me. I was hoping you would say it should work. I will contact my provider and see if they have contacted you. Much obliged.
17.01.2018 16:57 #6
Hi Maxell,

That's no problem at all, if you have any further queries don't hesitate to contact us.

Many thanks,

Wayne
30.01.2018 10:46 #7
Registered User
Reposting here as no replies in main banking sub-forum:


Which, if any, of the banks here (AIB in this case) have API access for say triggering a permissioned API call to move funds from a business account to another SEPA zone account? Is this currently possible, APIs available as per PSD2? 

I'm planning a startup and need to take payments via bank transfer and in turn aggregate said payments and move to a 3rd party bank account (and then in reverse later). My understanding is PSD2 has mandated this type of access.. but in the real world which bank has working APIs for this type of functionality?

thanks
30.01.2018 15:01 #8
Hi Matt Simis, 

AIB are currently working on developing APIs for access to account information and payment initiation services under the PSD2 directive. PSD2 requires financial institutions to make access to payment accounts available specifically for AISP and PISP services as defined in the directive. While PSD2 does not specifically mandate APIs as the mechanism of access it is the technical framework we plan to use to comply with the “Regulatory Technical Standards on Strong Customer Authentication and common and secure communication under Article 98 of Directive 2015/2366 (PSD2)”. This is expected to come into force from Q3 2019. We expect to publish the APIs during 2018, well in advance of the expected effective date for the RTS in Q3 2019.

If you have further queries, please don’t hesitate to contact our API development team via email at api@aib.ie

Thanks for posting,
Lisa 
30.01.2018 21:14 #9
Registered User
Thanks for getting back to me. Just to put that in laymans terms though.. are you saying AIB will not have actionable API access to do the specific things I mentioned until Q3 2019??  
Do you have any alternative in the meantime?
31.01.2018 12:09 #10
Originally posted by Matt Simis
Thanks for getting back to me. Just to put that in laymans terms though.. are you saying AIB will not have actionable API access to do the specific things I mentioned until Q3 2019??  
Do you have any alternative in the meantime?

Hi Matt Simis,

We expect to publish the API's to initiate a funds transfer and access account information in Q2/Q3 2018.

Thanks for getting in touch,
Anne
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